Rs 5 crore housing project coming up in Powai campus
Larsen & Toubro, one of the leading engineering & construction company is planning to come up with one of the largest housing project in Powai campus in Mumbai measuring up to two million sq ft over 20 acres of land.
The price of residential units in and around Powai is around Rs 25,000 per sqft. The construction cost of the project will be around Rs 500-600 crores.
L&T carries a major chance as not many projects are coming up in the Powai area. The project will be launched at the time when they shift their office on Navi Mumbai campus.
L&T has build two towers for commercial purposes – one is occupied by L&T Infotech and the other have been leased to JP Morgan.
As the company has years of experience in construction sector, it is not planning for any joint ventures. Larsen & Toubro’s realty arm L&T Realty which has executed an amount of Rs 7000 crores project in Bhoiwada last year in partnership with Omkar Realty and Developers. At Sea Woods in Navi Mumbai, L&T is developing a commercial complex also.
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